PETALING JAYA: Shares in property developer Selangor Dredging Bhd
(SDB) rose 12.5% to RM1.08 yesterday, on the back of news that SDB was selling its headquarters Wisma Selangor Dredging for RM480mil cash.
Apart from making a profit of RM146.8mil from the proposed sale that would increase the company’s earnings per share by 32 sen, SDB shareholders would also receive a special cash dividend, as SDB said it intended to distribute RM80.96mil of the proceeds to its shareholders. This translates to a special dividend of 19 sen per share.
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